Rivian Automotive Correlations
| RIVN Stock | USD 10.33 0.26 2.58% |
The correlation of Rivian Automotive is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Rivian Automotive moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Rivian Automotive moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Modest diversification
The correlation between Rivian Automotive and NYA is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rivian Automotive and NYA in the same portfolio, assuming nothing else is changed.
Rivian |
The ability to find closely correlated positions to Rivian Automotive could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Rivian Automotive when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Rivian Automotive - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Rivian Automotive to buy it.
Moving together with Rivian Stock
| 0.91 | QS | Quantumscape Corp | PairCorr |
| 0.83 | VC | Visteon Corp | PairCorr |
| 0.73 | VLCN | Volcon Inc | PairCorr |
| 0.84 | WKSP | Worksport | PairCorr |
| 0.84 | FFIE | Faraday Future Intel | PairCorr |
| 0.64 | AXL | American Axle Manufa | PairCorr |
| 0.96 | FOXF | Fox Factory Holding | PairCorr |
Moving against Rivian Stock
| 0.78 | GM | General Motors | PairCorr |
| 0.7 | ALV | Autoliv | PairCorr |
| 0.69 | GTX | Garrett Motion | PairCorr |
| 0.61 | DORM | Dorman Products | PairCorr |
| 0.49 | TM | Toyota Motor Financial Report 8th of May 2024 | PairCorr |
| 0.46 | ECDA | ECD Automotive Design Symbol Change | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Rivian Stock performing well and Rivian Automotive Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Rivian Automotive's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NIO | 3.30 | (0.06) | 0.00 | 0.04 | 3.86 | 7.78 | 19.93 | |||
| XPEV | 3.49 | 0.07 | 0.04 | 0.10 | 4.20 | 9.35 | 21.48 | |||
| FSR | 8.24 | (4.91) | 0.00 | (4.83) | 0.00 | 13.33 | 88.18 | |||
| MULN | 7.03 | (0.32) | 0.00 | (0.04) | 0.00 | 19.54 | 102.95 | |||
| TSLA | 2.63 | (0.11) | (0.02) | 0.00 | 3.07 | 6.22 | 20.86 | |||
| LI | 3.47 | 0.04 | 0.01 | 0.10 | 4.59 | 9.98 | 32.44 | |||
| LCID | 2.89 | (0.34) | 0.00 | (0.13) | 0.00 | 5.88 | 25.45 | |||
| GM | 1.06 | 0.13 | 0.10 | 0.17 | 1.25 | 2.68 | 7.65 | |||
| F | 1.59 | (0.02) | 0.04 | 0.06 | 1.92 | 4.88 | 10.80 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Rivian Automotive without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Rivian Automotive Corporate Management
Elected by the shareholders, the Rivian Automotive's board of directors comprises two types of representatives: Rivian Automotive inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Rivian. The board's role is to monitor Rivian Automotive's management team and ensure that shareholders' interests are well served. Rivian Automotive's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Rivian Automotive's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Jeffrey Baker | Chief Officer | Profile | |
| Robert Scaringe | CEO Founder | Profile | |
| CFA CFA | VP Relations | Profile | |
| Anisa Costa | Chief Officer | Profile | |
| Michael Callahan | Chief Secretary | Profile | |
| Frank Klein | Chief Officer | Profile | |
| Nick Mulholland | VP Communications | Profile |
Already Invested in Rivian Automotive?
The danger of trading Rivian Automotive is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Rivian Automotive is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Rivian Automotive. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Rivian Automotive is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Rivian Automotive offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Rivian Automotive's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Rivian Automotive Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Rivian Automotive Stock: Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Rivian Automotive. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in real. To learn how to invest in Rivian Stock, please use our How to Invest in Rivian Automotive guide.You can also try the Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Complementary Tools for Rivian Stock analysis
When running Rivian Automotive's price analysis, check to measure Rivian Automotive's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Rivian Automotive is operating at the current time. Most of Rivian Automotive's value examination focuses on studying past and present price action to predict the probability of Rivian Automotive's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Rivian Automotive's price. Additionally, you may evaluate how the addition of Rivian Automotive to your portfolios can decrease your overall portfolio volatility.
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Is Rivian Automotive's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Rivian Automotive. If investors know Rivian will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Rivian Automotive listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (5.74) | Revenue Per Share 4.682 | Quarterly Revenue Growth 0.983 | Return On Assets (0.21) | Return On Equity (0.47) |
The market value of Rivian Automotive is measured differently than its book value, which is the value of Rivian that is recorded on the company's balance sheet. Investors also form their own opinion of Rivian Automotive's value that differs from its market value or its book value, called intrinsic value, which is Rivian Automotive's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Rivian Automotive's market value can be influenced by many factors that don't directly affect Rivian Automotive's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Rivian Automotive's value and its price as these two are different measures arrived at by different means. Investors typically determine if Rivian Automotive is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Rivian Automotive's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.